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Trade deficit doubles in November

Exports surge 26.49% to $29.88 bn, imports zoom 57% to $53.15bn leaving a trade deficit of $23.27 in Nov; Gold imports up 8%to $4.22bn

Trade deficit doubles in November
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Trade deficit doubles in November

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New Delhi: India's merchandise exports in November rose by 26.49 per cent to $29.88 billion on account of healthy growth in sectors such as engineering, petroleum, chemicals and marine products, according to provisional data released by the government on Wednesday.

The exports stood at $23.62 billion in November 2020. Imports in November were at $53.15 billion, an increase of 57.18 per cent over $33.81 billion in the same month of 2020, leaving a trade deficit of $23.27 billion.

"India's merchandise exports in April-November 2021 was $262.46 billion, an increase of 50.71 per cent over $174.15 billion in April-November 2020 and an increase of 24.29 per cent over $211.17 billion in April-November 2019," the commerce ministry said.

Imports in April-November 2021 grew by 75.39 per cent to $384.44 billion. Trade deficit stood at $121.98 billion during the eight-month period of this fiscal.

As per the data, the trade deficit in November more than doubled to $23.27 billion as gold imports grew by about 8 per cent to $4.22 billion.

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